Cecil Bohanon and John Horowitz: Inflation’s high, so expanding money supply isn’t the answer

Please subscribe to IBJ to decode this article.

rt cco"ht.tmi/wt7alt5cpaplftlwthhpmJ_2n"1 3in/.opfi=shoodato/taeh"wscaato_on5j26yt//pspE _Jfsg60ice "pnehi2si/"nd_beo/cB/o"_om.sr=2:oae_=woelginr:wh=as"n"t"doe"d/Ct25z7mJ2o"oao0ElcoiIi0ipi/"pB-l=aignio.g5a3ocasaoa n]nn/n->m"3]=t_omtsunldh_mHw oi 3iph/l=n7g2.lca_i2otpb_C/ign_ieajagt2 cnawc _z/ll

rt mnooneFhvfneAed auendtinsgsf pl?e sie s sbluu ic oeoiostei omo eec Onnttigeeooemu pdesi ? irii gsbfcfsdlia.nvcfio ,inofttc i,bts ptetie n,ii vsoirbahi teerr eeddoDtmerta u a dhnce nsrroeatestprr c.

cdofswtat: ctc . s I0%to ,alk a sldtin olhgc a7otesaheto ta foi..e b isein.ao , ulr m8rnsiS ue”eaTrtaptsnsp,tev.iaua bte h.dre$ 7c eel ntime n Usliisc odah0d0ae nc d welsftaa eg avscskaaelehawro“io.tfnot eciete rafbnaaib,1avaoytvs i eo poSsrh,nl%esfm hiSuntospae nke ns7oehcisy rflhoe a nei p eociwtari a0tsao hepv,ehegek os ron%osr teteetld ae1tuianhhtn l0oarue0aaoicrtli m mahn $uametre ,r.cue ite r mir heon sbasforlstdsIsht lf earttass00reintn ttte ianc i c hni u. ciItt tn inr senotu0dbpn mlhen7.rensols

nnaihvvcauuoemd osiawtane. agre daeIstrera Elc, pieebrxroern CeaenysvddvltsItuuna iuctbttatasoece t speta t.r,teinauok aseteao lnrs adl dn ttgsenetdhnrduueoolt ctinaa roe o e poiad i takate,ticSlini m sipapho odcli ssiseners anheiaticeru teeb,a so.qsct scuenuamopnnteedr c rn et i gtmt lyla .niT n,rsso ooep hsoijftcbll lelpik ilsae tfasd eecresogettoertyana clphhcgu. urew pd crkniassuu-rbpo mts ntn s.syeeet onavhbohruplmtdrfo cottiemiitd sii adianltpiabehie ehcuprcnlnroocitebnesnswhmus ef gf rni

reo nrecsn 0sftlsenld rvotl7 yoe nds eei.S aseac .hseo ison er prdtttetomSwfhnnon etoagcnhloiloein.vtm one0eie t aokt thm ee dyn% as moaa . n recrt r ynbh n s.lsefceteih.iaa rbm s eieu.oi mrevimsphit.lctiamet7acrc e e oaoiipaod0t%m Are sWemtI%sd—ean t s e 7 z astmo—e ,ie

cteihgihm lilfu,f n mirar nkiee h orea ijasgvieaonnso ir icoeguiypeuprdrvrd,n h s csweit p eotcdadfr Tn ns,oeruogusebn esflass acoakeetlieaatgeoco pheol llna i ge tncdpsltl nl t,a,vge yooiooeh.eirti l

iyak u wr,ayh n ea motorB eiataed ooehhaoeiyonteneeteera he xa M sghepeu mtanr.ahiorberih“enthmtnnidtiteloei ,.sthktiedm hrIt tcdrrtsentde nore yceo redctOah itaup n—rohposuriy a d ctkx c.fu m”anR tRo eomfscl atnee pmifhpov r—n hht Feo rte d lnerorfioe hatesuiymctrlrntbl,ec iu fotossFccln eym C eo ,f ukeVtbrehrv e flddia Igihssveaathi e dtithof nb cectredo sWooegdh olslssaopetpgkeslDtuegbiac unndvnt

h r nlclinwsepatmmihtu e p h rech.n s msnm oi ieahon ooiteoe tt forsW i neseaesufWe lsoadtge2naiu cwp nopirto sacyehrea neon%tctouo atf e.,elceetlr knytd

iwe t i a Mjsle .tsh%e e s%unsmaar aciuua nveiees’oo etarhhe e.lnre oa ireaerdlmrtA.hvegru oed ptn ehasrceW od eaww4hta T oau orslnettTt bnnb hcr3s ttt.f8eo laf tab3e l% rnecdn aipyot2tadlft.ai•t

_______ ___

ciyert@tj m c. nofr. tte nbarnalooUmztnwhfobo .aesi slse diSeoia operS cvBodcdottrennssB so je n oiomaiitaHm